Hong Kong shares climbed for the fourth trading day on Tuesday, as China’s economy rose 5.2 percent in the second quarter, beating market expectations of 5.1 percent.
The benchmark Hang Seng Index rose 386 points, or 1.6 percent, to 24,590. The Hang Seng Tech index gained 2.8 percent to 5,431 points.
The full-day main board turnover reached HK$288.4 billion, 37 percent higher than the previous day.
Data on Tuesday showed China's gross domestic product grew 5.2 percent in the April-June quarter from a year earlier, slowing from 5.4 percent in the first quarter but still above the official target of 5 percent.
"China achieved growth above the 5 percent target in Q2 partly because of front loading of exports," said Zhiwei Zhang, chief economist at Pinpoint Asset Management.
Kingsoft Cloud (3896) jumped 16.8 percent as Nvidia said it will resume sales of its H20 artificial intelligence chip to China and has introduced a new model tailored to meet regulatory requirements in the Chinese market.
Chinese data center group GDS Holdings (9698) also marched 12.2 percent to HK$38.65.
China Vanke (2202) dropped about 2.1 percent after the developer expected the first half net loss to expand to up to 12 billion yuan (HK$13.14 billion).
Its peer Country Garden (2007) lost 1.2 percent despite it pledging a core commission of ensuring timely deliveries of presold homes in the third quarter.
In mainland China, the Shanghai Composite Index lost 0.42 percent to 3,505 points, while the Shenzhen Component Index gained 0.56 percent to 10,744 points.
STAFF REPORTER AND REUTERS
